We are a couple about to exchange contracts for a semi detached house in Tooting. We have hit a snag. Our loan offer with Santander expires on 12/11/2019 but the owners are suggesting a completion date of 14/11/2019. Is it possible to extend the mortgage expiry date?
The best person to deal with your concern is your lawyer who should assess if they should be discussing with the bank, vendor’s representatives, property agents or indeed all parties taking into account the circumstances your house move as of today.
About to place an offer on a leasehold flat in Tooting. The estate agents assure me that it is normal for flats in Tooting to have less than 75 years remaining. I am expecting a loan with Bank of Ireland. Will the property be mortgageable given that the lease has Seventy One years remaining.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Bank of Ireland have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 12/9/2019 the requirements read as follows :
Various internet forums that I have visited warn that are the main reason for hinderance in Tooting conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of research by MoveWithUs that conveyancing searches do not feature within the most frequent causes of hindrances in the conveyancing process. Searches are unlikely to be the root cause of holding up conveyancing in Tooting.
It has been 3 months following my purchase conveyancing in Tooting concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am buying a new build flat in Tooting. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Tooting
-
Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Please supply a car parking plan. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
What tools are available to search for a Tooting law firm on the Aldermore conveyancing panel? I have wheels and am willing to travel upto 10miles to meet the lawyer.
Feel free to make use of the tool on this page. Please pick a bank and your location and you will see a number of Tooting conveyancing lawyers based on proximity. We have listed some Tooting conveyancing firms towards the end of this page and you can call them to check whether they are on the Aldermore panel
